Some three minutes later, the 49ers confirmed Monday's news that they've acquired wide receiver Anquan Boldin from the Baltimore Ravens (pending a physical) for an "undisclosed" draft pick believed to be a sixth-round choice.

Tuesday marked the start of the league year, thus allowing for trades as well as movement by free agents.

Although the 49ers didn't disclose what they got for Smith, it was reported two weeks they were receiving the Chiefs' second-round draft pick next month (No. 34 overall) and at least a third-round pick in 2014 that could escalate to a second-round choice.

San Francisco 49ers' Alex Smith watches the game against the New York Giants at Candlestick Park in San Francisco, Calif. on Sunday, Oct. 14, 2012. (Jim Gensheimer/Staff)

"We would like to thank Alex for his contributions to the 49ers organization over the past eight years," general manager Trent Baalke said in a statement. "He is a true professional who represented the 49ers with class on and off the field."

Smith's wife, Elizabeth, posted a farewell message through her Instagram account: "Thank you everyone for the kind words & support. This chapter of our lives will forever be cherished." She attached a picture of Smith in his 49ers jersey holding their toddler son, Hudson.

Smith's tenure was highlighted by a playoff-opening win over the New Orleans Saints in the 2011 season, not to mention the class he showed after a concussion cost him his job last season to Colin Kaepernick.

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A 2007 shoulder injury, constant coaching changes and inferior supporting casts seemed to undermine the start of Smith's career. He flourished upon Jim Harbaugh's arrival as 49ers coach, producing a 19-5-1 record as the 49ers' starting quarterback since 2011, as opposed to the 19-31-0 mark he had from 2005-2010.

Boldin, a 10-year veteran who helped topple the 49ers in the Super Bowl last month, is currently in Africa on a relief visit. He is expected to return to the United States in two days.

"We are excited to add Anquan to our roster," Baalke said in a statement. "He is a highly competitive and productive player with strong leadership qualities that will be a welcome addition to our team and community."